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Angola and European Union to sign agreement on informal economy

Angola and European Union will sign today an agreement for the support of Informal Economy Reconversion programme estimated at €20M, Angop has learnt.

Angolan minister of Economy and Planning Sérgio Santos and EU ambassador and head of delegation in Angola, Jannete Seppen, are expected to sign the deal, under 11th European Development Fund (EDF).

The agreement will also ensure support the actions for improvement of business environment in Angola.

Also read: Angola bets on attracting more investments from the US

The funding will be executed in the form of budget support registered in the State Budget (OGE) and transferred to the National Treasure, as a pioneer action in the EU/Angola cooperation, states a note released by Economy and Planning Ministry.

Angola and European Union have already signed €22M agreement to fund various programmes in the areas such as public finances, high education and in the framework of the dialogue mechanisms included in the Joint Path programme.

Source: Angop

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